IU hires Goldman Sachs to advise on parking leases

Indiana University has hired investment banker Goldman Sachs to advise it on whether to seek a multimillion-dollar payout by turning over parking facailities on the Bloomington and Indianapolis campuses to a private operator.

The university made the move this week after its Board of Trustees agreed in October to study the possibility of a 30- or 50-year lease. Some trustees and faculty representatives have questioned whether it would be a good move.

The university says that if it decided to solicit bids, Goldman Sachs will help evaluate them. It says the firm's role is expected to last six to nine months.